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Senior Execs Without a Good PlanSenior Execs Without a Good Plan
America's executives may have made it to the top by being hyper-efficient, but when it comes to their finances, there's at least one item that stays on the list: estate planning. A recent survey of senior executives with estates of $5 million or more found most have plans last updated more than five years ago even though their chief financial concern is making sure heirs are taken care of. SURVEY
Hannah Shaw Grove and Russ Alan Prince
America's executives may have made it to the top by being hyper-efficient, but when it comes to their finances, there's at least one item that stays on the “to-do” list: estate planning. A recent survey of senior executives with estates of $5 million or more found most have plans last updated more than five years ago — even though their chief financial concern is making sure heirs are taken care of.
SURVEY
The study, conducted by phone in the third quarter of 2003, questioned 286 executives who held the position of vice president or higher at a publicly owned Fortune 1,000 company. All had been at their companies at least 10 years and were at least 45 years old. The majority — 81.0 percent — were men. ...
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